Gold on relentless rally without Top on a horizon

Technical analysis: The strong (once again Fundamentally driven) bounce near Bottom (my -re-Sell zone) throughout yesterday’s session wasn’t evidently enough to break the Daily chart’s neckline downwards. Support zone acted as an rebound (as many times in near past) point however current relentless Buying sequence first aims at the #2,400.80 psychological benchmark and in case that Resistance gives away, expect Gap fill on #2,452.80 psychological benchmark few sessions after the break. If #2,452.80 benchmark breaks, then it will lead us into the final stage towards reaching the #2,500.80 psychological benchmark in extension which should be final extension of multi-Month relief rally on Gold. At the moment #2,342.80 - #2,352.80 provides durable Support zone (so potential pullback in case of Support zone is translated into optimal re-Buy entry). It is possible that Price-action tests #2,400’s zone and then deliver another aggressive takedown early next week which will later on be Bought back in the same manner. I defend my Selling model on Medium-term as Investors remain very interested in Selling potential which is limiting every relief rally advance on Gold. Not that the Ascending Channel from mid-October hasn't ben broken yet and in fact the bounce from #2,100's is a Higher Low's on the sequence that started in mid October - early November.


Fundamental analysis: As it is evident on my Technicals, Gold is Trading within an Ascending Channel since October #20 - October #29 Bottom. Mentioned Channel has a clear Lower Low’s zone and Higher High’s zone. This is where a Long-term Trade Sells and Buys respectively. Since February #20, Price-action has put a temporary stop to the downtrend as it hasn't accomplished local Low’s at all, also failed to deliver at least #2 Lower Low's since October in continuation confirming one of the most aggressive relief rallies in Gold's history. This is basically the ideal Selling zone for the Medium-term however it is still too early to do so. The lack of a new Lower Low's on the Ascending Channel has made me believe that the time is approaching when the market will put this (Long-term) correction behind and will continue rising (leaving me without any Trading patterns to Trade by). It is required to witness former Lower High's Lower Zone to break in order to confirm that Price-action is reversing which will restore the Long-term Bearish. Anyway this is an overall overview of the current situation, right now I do not have any clear Trading opportunity. Remember that I do expect #1,800.80 re-test on Medium to Long-term.